Liverpool have completed the signing of Dutch right-back Jan Kromkamp, who is joining as part of a swap deal with Spanish side Villarreal for Josemi.
Kromkamp will be unveiled at Anfield on Thursday
Krompkamp, 25, has passed his medical and will be officially unveiled at Anfield on Thursday.
He could make his debut against Luton Town in the FA Cup on Saturday after a rule-change over the eligibility of new signings in that competition.
Josemi, 26, wrapped up his part of the move on Monday.
Speaking at a news conference in Spain, Josemi said: "Myself and my family are really happy to be returning."
He added: "I'm thankful to Villarreal for giving me this chance."
Josemi was Rafael Benitez's first signing for Liverpool, in 2004 from Malaga, but he has struggled to adapt to English football and this season has made just six Premiership appearances.
Now he says he is joining "one of the biggest clubs in Europe" and appears happy to be quitting Anfield.
"I wasn't given all the chances I had hoped I would get at Liverpool. Now I want to recover the sort of form I showed when I played at Malaga."
Villarreal are in fourth place in the Primera Liga and have qualified for the last 16 of the Champions League where they will play Rangers.
Josemi, who has signed a four-and-a-half-year deal there, cannot play in that game as he has featured already for Liverpool in the Champions League this season.